Quanta Services (NYSE:PWR - Free Report) had its target price trimmed by Citigroup from $394.00 to $371.00 in a research report report published on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the construction company's stock.
A number of other equities research analysts have also recently commented on PWR. Bank of America began coverage on Quanta Services in a research report on Friday, January 24th. They set a "buy" rating and a $407.00 target price on the stock. Truist Financial dropped their price objective on Quanta Services from $399.00 to $398.00 and set a "buy" rating on the stock in a report on Thursday, January 16th. TD Cowen increased their target price on Quanta Services from $280.00 to $335.00 and gave the company a "buy" rating in a research report on Tuesday, October 15th. Stifel Nicolaus boosted their price target on shares of Quanta Services from $374.00 to $388.00 and gave the stock a "buy" rating in a report on Wednesday, January 22nd. Finally, Daiwa America raised shares of Quanta Services to a "strong-buy" rating in a report on Friday, December 6th. Four analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Quanta Services has an average rating of "Moderate Buy" and an average target price of $330.06.
Read Our Latest Analysis on Quanta Services
Quanta Services Stock Performance
NYSE:PWR traded down $1.19 during trading hours on Wednesday, reaching $308.10. The company had a trading volume of 1,162,727 shares, compared to its average volume of 1,353,427. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.23 and a quick ratio of 1.19. Quanta Services has a 1-year low of $193.52 and a 1-year high of $365.88. The business's 50 day moving average price is $328.59 and its 200-day moving average price is $301.30. The firm has a market cap of $45.48 billion, a PE ratio of 56.85, a price-to-earnings-growth ratio of 1.49 and a beta of 1.06.
Quanta Services (NYSE:PWR - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.46 by $0.26. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. The firm had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.56 billion. During the same period in the prior year, the firm posted $2.08 earnings per share. The firm's quarterly revenue was up 15.5% compared to the same quarter last year. Research analysts forecast that Quanta Services will post 7.9 EPS for the current year.
Quanta Services Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.13%. The ex-dividend date of this dividend was Thursday, January 2nd. This is a positive change from Quanta Services's previous quarterly dividend of $0.09. Quanta Services's payout ratio is currently 7.38%.
Institutional Investors Weigh In On Quanta Services
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Webster Bank N. A. grew its stake in shares of Quanta Services by 4,050.0% in the 4th quarter. Webster Bank N. A. now owns 83 shares of the construction company's stock valued at $26,000 after buying an additional 81 shares during the period. Sierra Ocean LLC acquired a new position in Quanta Services in the fourth quarter valued at approximately $27,000. Prestige Wealth Management Group LLC acquired a new stake in Quanta Services during the third quarter worth $30,000. Legacy Investment Solutions LLC purchased a new stake in Quanta Services in the third quarter valued at $31,000. Finally, Sound Income Strategies LLC lifted its stake in shares of Quanta Services by 700.0% in the 4th quarter. Sound Income Strategies LLC now owns 104 shares of the construction company's stock valued at $33,000 after purchasing an additional 91 shares during the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.
About Quanta Services
(
Get Free Report)
Quanta Services, Inc provides infrastructure solutions for the electric and gas utility, renewable energy, communications, and pipeline and energy industries in the United States, Canada, Australia, and internationally. The company's Electric Power Infrastructure Solutions segment engages in the design, procurement, construction, upgrade, repair, and maintenance of electric power transmission and distribution infrastructure and substation facilities; installation, maintenance, and upgrade of electric power infrastructure projects; installation of smart grid technologies on electric power networks; and design, installation, maintenance, and repair of commercial and industrial wirings.
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